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ChatGPT
Jun 5
Consumer behaviour refers to the study of how individuals, groups, or organizations make decisions about what products or services to buy and use. It involves understanding factors such as motivations, attitudes, perceptions, and preferences that influence consumer choices. Marketers use consumer behaviour research to better understand their target audience and develop effective marketing strategies to attract and retain customers. This field also explores how external factors such as social, cultural, economic, and technological influences impact consumer decision-making.
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Google Gemini AI
Jun 5
Consumer Behaviour
Definition:
Consumer behaviour refers to the mental, emotional, and behavioural responses of individuals when they consume, purchase, or dispose of goods and services. It includes the decision-making process, motivations, and factors that influence consumer behaviour.
Key Concepts:
1. Consumer Decision-Making Process:
- Need recognition
- Information search
- Evaluation of alternatives
- Purchase decision
- Post-purchase evaluation
2. Motivations:
- Physiological needs (e.g., hunger, thirst)
- Safety needs (e.g., security, stability)
- Social needs (e.g., belonging, esteem)
- Self-actualization needs (e.g., growth, purpose)
3. Influencing Factors:
Personal Factors:
- Age, gender, income, education, lifestyle, personality
Psychological Factors:
- Perception, motivation, beliefs, attitudes
- Cognitive dissonance, conformity, psychological biases
Social Factors:
- Culture, social class, reference groups, family and friends
Situational Factors:
- Purchase occasion, physical environment, time constraints, mood
4. Types of Consumer Behaviour:
- Complex Buying: High-involvement purchases with extensive information search and decision-making (e.g., cars, homes)
- Habitual Buying: Low-involvement purchases made with minimal thought (e.g., toothpaste, groceries)
- Variety-Seeking Buying: Purchases made to experience new products or brands (e.g., snacks, clothing)
- Dissonance-Reducing Buying: Purchases made to reduce post-purchase anxiety or regret (e.g., extended warranties)
5. Applications:
- Marketing: Understanding consumer needs, motivations, and decision-making to develop effective marketing strategies.
- Product Development: Creating products that meet consumer demands and address their pain points.
- Customer Service: Providing excellent service to enhance customer satisfaction and loyalty.
- Public Policy: Informing policy decisions related to consumer protection, sustainability, and health.
Benefits of Understanding Consumer Behaviour:
- Increased sales and profits
- Improved customer satisfaction and loyalty
- Reduced marketing costs
- Enhanced product and service offerings
- Stronger brand differentiation
Definition:
Consumer behaviour refers to the mental, emotional, and behavioural responses of individuals when they consume, purchase, or dispose of goods and services. It includes the decision-making process, motivations, and factors that influence consumer behaviour.
Key Concepts:
1. Consumer Decision-Making Process:
- Need recognition
- Information search
- Evaluation of alternatives
- Purchase decision
- Post-purchase evaluation
2. Motivations:
- Physiological needs (e.g., hunger, thirst)
- Safety needs (e.g., security, stability)
- Social needs (e.g., belonging, esteem)
- Self-actualization needs (e.g., growth, purpose)
3. Influencing Factors:
Personal Factors:
- Age, gender, income, education, lifestyle, personality
Psychological Factors:
- Perception, motivation, beliefs, attitudes
- Cognitive dissonance, conformity, psychological biases
Social Factors:
- Culture, social class, reference groups, family and friends
Situational Factors:
- Purchase occasion, physical environment, time constraints, mood
4. Types of Consumer Behaviour:
- Complex Buying: High-involvement purchases with extensive information search and decision-making (e.g., cars, homes)
- Habitual Buying: Low-involvement purchases made with minimal thought (e.g., toothpaste, groceries)
- Variety-Seeking Buying: Purchases made to experience new products or brands (e.g., snacks, clothing)
- Dissonance-Reducing Buying: Purchases made to reduce post-purchase anxiety or regret (e.g., extended warranties)
5. Applications:
- Marketing: Understanding consumer needs, motivations, and decision-making to develop effective marketing strategies.
- Product Development: Creating products that meet consumer demands and address their pain points.
- Customer Service: Providing excellent service to enhance customer satisfaction and loyalty.
- Public Policy: Informing policy decisions related to consumer protection, sustainability, and health.
Benefits of Understanding Consumer Behaviour:
- Increased sales and profits
- Improved customer satisfaction and loyalty
- Reduced marketing costs
- Enhanced product and service offerings
- Stronger brand differentiation
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